Approximately 8% of the Australian population are owners of Investment property with a portion of these managed by property agents. If you fall into this statistic, the Integrated Rental statement tool will benefit you.
Within your portal, you can add an Investment property and request your property agent to CC a copy to the portal administrators to have the information attached to the rental property.
To have the rental statements integrated into your portal:
- In your portal, go to Wealth and Click ‘Add Item’
- Choose the Investment property box.
- Add the address of the property and click “Continue”
- On the next screen, property data is provided, click Continue or if this is not the property, you can add a property Manually.
Note: If a property is added manually, a property will not be updated automatically.
- After clicking Continue, the next window will show the estimated value of the property which you can adjust if it is not accurate according to the current property values. This may be the case if renovations have been completed etc.
Additional notes can also be added in the space provided for your information or for your financial professional.
- Once Finish is clicked, the 'Add property manager' page opens. Add your Property manager’s email address (address you receive your monthly statements) in the space provided and click Send email. This begins the property rental statement integration.
- On “Send Email’, an email is added in your default email account to your agent requesting the monthly statements to be CC’d as below.
- Send the email and click ‘Continue’ back in the portal.
- A new window opens to confirm completion of the request, click Finish.
What happens next:
- Our administrators wait for the initial monthly statement to arrive through email.
- Once the initial email is received, verification occurs to confirm property information and then the rental statement is attached to the wealth item in a tab called ‘Rent’.
Note: Verification to link the statement to your portal’s wealth item is by looking at :
- Email it comes from
- Email it is going to
- Property address
Note: Rent tab only appears once the first statement is attached.
3. Once attached, you or your permissioned team members can view, print and download a copy of this.
4. In the cashflow area of the portal, the Value of the rental will be automatically categorised to Investment income.